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a minute ago to say that she was held by gunpoint. >> businessman reid gray was on the line with the sheriff's office in a panic. he told the 911 operator that his wife had phoned him minutes earlier to say she'd been kidnapped. >> i would say it's not. >> the call would turn out to be just the beginning of an unbelievable saga that would baffle investigators and turn this husband's life upside down. the next few days would bring one setback after another and no one could have predicted how it all would come to an end. it was around 5:00 p.m., september 4, 2009. reid's wife quinn had called him at work and told him she'd just been kidnapped right out of their $4 million home. reid couldn't believe what he'd heard and went to his office parking lot to try to think straight. >> did she tell you where she was at? no. there's a note at the house with the gunman's demand. >> the news was as shocking as it was terrifying, quinn, a mom of two young daughters, was a trained nurse who was now raising her children full time. her husband was a self-made man who had finally hit it big i
? >> that's the real question right now. right now, the focus is on the senate. what does harry reid do? does he blink obama's plan to the floor or try to work with mcconnell in this 11th hour. you will have a tough vote for many house republicans. if that level is at 250 and it includes unemployment, make it so republicans may not. >> joy, do you think we have a deal? >> you know, ill'm still very dubious. but if there is a deal, it will be with a majority of democrats in the house and there's a political risk for boehner in that. >> thank you. you've been watching "hardball." we'll be back in one hour with an all-new live edition. until then, "politics nation" starts rite now. >> thanks, richard. thanks to you for tuning in. breaking news, president obama urges congress to make a deal to overt the fiscal cliff. he announces no deal, but progress may be in sight. >> and that would be the wrong thing to do for our e con mu. it would be bad for middle class families and bad for businesses that depend on family spending. fortunately, congress can prevent it from happening if they act righ
leader harry reid is ready to introduce legislation that would avert the fiscal cliff, but only if he gets assurances from republican leaders that they won't try to block it. that standoff is creating some tension on capitol hill that spilled on to the senate floor today. >> the senate will come to order. >> reporter: in the normally genteel senate, leader reid unleashed a tirade today about house speaker john boehner, accusing him of running a dictatorship in the house. >> speaker boehner is not willing to negotiate. we have not heard a word from leader mcconnell. nothing is happening. >> reporter: mitch mcconnell, the top republican in the senate, said it's reid who hasn't reached out for weeks. >> the phone never rang. and so now here we are, five days from the new year, and we might finally start talking. >> reporter: but talking about what? so far, reid has not introduced the scaled-down bill he was reportedly working on over the christmas holiday. sources say that bill would extend the bush-era tax cuts for americans making less than $250,000 a year. with the clock ticking, reid
, and for our entire economy. but the hour for immediate action is here. it is now. >> senate leaders harry reid and mitch mcconnell were back at the capitol in no time. mcconnell gathered his members to inform them of the work that needs to be done. >> we had a good meeting down at the white house. we are engaged in discussions, the majority leader and myself and the white house, in the hopes that we can come forward, as early as sunday, and have a recommendation, that i can make to my conference and the majority leader can make to his conference, so we'll be working hard to try to see if we can get there in the next 24 hours. so i'm hopeful and optimistic. >> i'm going to do everything that i can. i'm confident senator mcconnell will do the same. but everybody, this is -- whatever we come up with is going to be imperfect and some people aren't going to like it. some people will like it less, but that's where we are. and i feel confident that we have an obligation to do the best we can and that was made very clear in the white house. and we're going to do the best we can for the caucuses that w
for all americans. 19 democrats voted for that. it was handed to mr. reid, mr. obama starting the warfare about taxing the rich. reid sat on the bill. why didn't he bring it up for a vote? why didn't it get fair debate? mr. reid hasn't passed a budget and we going to believe they're serious about the fiscal problems? let's go offense the cliff. >> we have two cameras outside the white house right now. that one i believe is perched on pennsylvania avenue and we have another camera which is perched facing the side entrance. those are the suvs that likely boehner, mcconnell, pelosi and reid will come out of. let's talk about the deal. what if there's a deal, craig, for, i don't know, say 4 hr $500,000 the threshold of who gets taxes and who keeps -- everybody under that number keeps their tax cuts. everyone over pays more and there's spending cuts. is that a bad deal? >> yeah. i think it is. let me tell you why. because you can't get everything out of this deal that you want and frankly, all we're doing is kicking the can down the road. you know as well as i do this does nothing to deal with
going on right now, though the action is with the senate majority leader harry reid, minority leader mitch mcconnell trying to put together some alternative package that could in fact make its way through both houses. after they met with the president on friday, they sounded cautiously optimistic. here's what they had to say. take a listen. >> we'll be working hard to try to see if we can get there in the next 24 hours. and so i'm hopeful and optimistic. >> i'm going to do everything that i can. i'm confident senator mcconnell will do the same. but everybody, this is whatever we come up with is going to be imperfect. >> and t.j., there's a lot of pressure on lawmakers and on the president to get something done. we've already seen the markets impacted by this. a lot of americans have just expressed frustration and concern over what's going to happen to their tax rates in the new year if in fact lawmakers can't get a deal. so there's a lot of public pressure to get something done on this. and of course, time is really running out. t.j.? >> kristen welker for us at the white house. than
't get a deal, the president has told harry reid to put the white house proposals up for an up or down vote. the details just keep on coming out. with us now are two guests. first, we are going to go rich edson. he is here with the very latest. tell us what you made of the president's comments. he was very direct. reporter: he ws. and now he passes on to the senate. senate majority leader harry reid, senate minority leader mitch mcconnell. they are trying to come up with something that can pass the house and the senate. the president laid out a proposal earlier this evening. at the beginning of this meeting. $250,000 per year. that income would be shielded from tax increases, and now he wants an extension of unemployment insurance. that is something that essentially a nonstarter in a republican-controlled house. now he is leaving it up to the two leaders in the u.s. senate try to reach a compromise. something perhaps along the line of what is being negotiated between the speaker and the president a couple of weeks ago. perhaps a tax increase for amounts of more than $400,000 or $500,00
majority leader harry reid quickly moved the measure to a vote. minority leader mch mcconnell assured that no republicans block the bill. house speaker john boehner agreed to bring the bill to a vote on the house floor. and leader nancy pelosi with the number of votes needed to pass. >> what folks are looking for and all of us agree on this is action. they want to see that we are focused on them, not focused on our politics here in washington. >> reporter: that was the last time this group met more than a month ago. with time running out to forge a scaled-down compromise, can they agree on even the most basic elements, extending some income tax cuts, preventing pay cuts to medicare providers, fixing the alternative minimum tax. among the options to gain votes, averting an estate tax hike toll woo republicans. there's still time but no room for error. if congress doesn't act -- >> the impact psychologically and financially on americans of another plunge in the negative territory for the economy would be extremely harmful. >> reporter: and candy, as i said, those leaders are still meeti
anywhere. there is less than a week to go. >> senator reid talking about a less than $250,000 limit. speaking right. exactly. liz: more on the fiscal cliff. let's bring in peter. with us is former clinton advisor doug shoen. we have basically mr. boehner saying, look, you senate, you have not come up with anything. >> i think, unfortunately, we will probably get around it. i think it is a worse outcome to avoid the cliff then to go over it. i think we should broaden the discussion and look at what is going on around the world. look at japan and europe. the japanese government is the glaring war on japanese citizens. it will create inflation. if the japanese citizens start to dump their bonds, they have been a bigger part then japan recently. that is a big problem for us. their euro has been quietly depreciating. if that goes out, that is a much bigger fiscal cliff. if the buyers of treasuries become sellers. liz: there are a lot of "if" in your discussion. the bond markets are still pretty -- nothing from the bottom vigilantes yet. you were a clinton advisor. you saw in the mid- 90s
'm optimistic we may still be able to reach an agreement that can pass both houses in time. senators reid and mcconnell are working on such an agreement as we speak. >> sean: here is what you need to remember. number one, the whole fed iasco was totally and completely avoidable. number two, senate democrats have not fulfilled their constitutional duty to pass a budget in over three long years. over 13 hyundais. their obsession has been and continues to be ruthless politics over doing what is right for you, the american people. now, number three, not once in the time has president obama demanded that the senate do their job. this is the height of irresponsibility. number four, the president's main focus has been to attack republicans again and again yet republicans they have done their job. they passed a bill months ago to avoid this fiscal cliff. now, that bill has been come meetly ignored by -- completely ignored by senate democrats and by the president. number five the worse part of all there is nothing here that the president is proprosing that deals with the real clear present danger
. senate majority leader harry reid is trying to determine what kind of bill he can get through the senate with limited republican support. meanwhile, governor neil abercrombie of hawaii tonight announced that lieutenant governor brian schatz is as fit to feel the seat of the passed senator daniel inouye. he will leave hawaii for washington tonight and is expected to be sworn in sometime tomorrow afternoon. the democrats are wasting no time in the event harry reid needs the vote to avert the fiscal cliff. but the house? a different story. speaker john boehner held a conference call with republican leadership today, and basically decided to do nothing. there are no immediate plans to return to washington. even as that decision is made, how members have 48 hours to get there. house republican leadership released a statement today reading in part, the house has acted on two bills which collectively would avert the entire fiscal cliff if enacted. those bills await action by the senate if the senate will not approve and send them to the president to be signed into law in their current form. the
with the speaker and mix mcconnel and harry reid to see if they can avoid going off the fiscal curb on january 1st. today harry reid emphasized that there is ome one reason why they are unable to reach an agreement so far. >> this has been going on for years. they cannot cross over the threshold. people are not propose iing mak the taxes like them. john boehner could not even pass the tax proposal he passed over there. he said no, can't do that. didn't he bring it up for a vote? >> tonight, speaker boehner's office put out this statement. >> joining me now are our guests. clearly the positioning game continues. harry reid saying we did our job months ago. do you think we til would be@posturing stage at the end of that white house meeting tomorrow? >> in your introduction you made the fundamental point here which is that this agreement before the end of the year, simply cannot go forward unless john by nor is willing to let it do so with majority democrats in the house. if we go over the curve as you put it, they can vote for a large tax decrease becaused off of the new rates that would be reset. t
to reach an agreement that can pass both houses in time. senators reid and mcconnell are working on such anagreement as we speak. >> and as we speak, rich edson is live in washington with the very latest. >> well, it's up to the senate. staffers and a majority leader harry reid, minority leader mitch mcconnell are trying to negotiate a scaled-down debt deal to avoid some of the fiscal cliff and take other major decisions on taxes and spending to the future. again, in an afternoon white house meeting president obama pitch a debt plan he had outlined a week ago, prevent a tax increase for income of less than to an effective thousand dollars per year and extend long-term unemployment benefits. senate leaders are using that framework to try to craft a proposal to pass both houses of congress. aides say it would likely increase the threshold for tax increases, reversing massive pay cut from medicare doctors, and elections of millions of americans to avoid paying the alternative minimum tax. an increase in the debt ceiling is not part ofhe discussion. that is significant development r
" tonight. brace for impact. senate majority leader harry reid says it looks like we'll head over the fiscal cliff. with just four days until the deadline can president obama and congress still pull out a deal in the nick of time? senator john hoeven of north dakota joins us to respond. >>> plus, a game-changer for the insurance industry. an auto insurer unveils new policies that charge by the mile, giving a big potential boon to drivers. can it drive the competition off the road? the ceo of metro mile is here to take the wheel. >>> and big beer companies putting beer goggles on their customers. the market for kraft beer is booming and big labels are battling to get a foothold but they may be using crafty tactics to sell you the same flat brew in different packaging. less filling tastes great. even when they say it's not it is always about money adam: before we serve you that beer let's look at the day's market headlines. stocks fell for their fourth straight session. that dour outlook on the fiscal cliff from senator harry reid sent stocks tumbling but they came off the session lows followi
of six attending. vice president biden, harry reid, house minority leader nancy pelosi, mitch mcconnell and john boehner representing the republicans. brianna keilar is live from washington. is anybody optimistic that a deal could be done today around a table? >> i will tell you the optimism is sort of sinking. senate majority leader harry reid said he doesn't see how it can get done by january 1st. we heard from president obama before he left from his vacation that he was optimistic. logistically the white house will tell you it's possible. when you listen to what you're hearing some of these congressional leaders say, there's a lot of posturing laying blame to the other side if we do go over the cliff. take a listen. >> republicans are not about to write a blank check for anything senate democrats put forward because we find ourselves at the edge of the cliff. >> we are here in washington working while the members of the house of representatives are out watching movies, watching their kids play soccer, basketball, doing all kinds of things. they should be here. >> now, house sp
to be a good drop. >> senator reid says we are going over the cliff. the market drops. then house republicans announce they will return to washington. congressman charlie rangel and richard wolff will sort out the late-breaking news. >>> the l.a. gun buyback say major success, but is it enough to stem the explosion of gun sales in the wake of newtown? >> i've seen huge uptick in business. our a.r.s have been sold out because people are very concerned about them becoming banned. >> los angeles mayor antonio villaraigosa joins me live. >>> plus the louie gohmert plan to arm teachers is going forward in ohio and utah. >> i wish to god she had had an m-4 in her office. >> michelle obama gets definitive on a future run for office. and tonight, i will deliver my verdict on spike lee versus "django unchained." >> what's your name? >> django. >>> with little more than four days until the fiscal cliff, we now know that all the relevant parties will be in washington in three days. that's right. three days from now. on sunday evening before the redskins beat the cowboys. the house will finally reconvene
to see you. within the past hour, senate majority leader harry reid spoke on the floor. he really gave it to john boehner. he got pretty personal. >> he did. he really laid the blame at boehner's lap. talked about the fact that he was surprised that the house isn't even in session, which is true, but let's get real. the senate came back into session this morning. most importantly, he was very, very pessimistic about getting anything done before we reach that fiscal cliff. listen to what he said. >> the speaker just has a few d days left to change his mind, but i have to be very honest, mr. president. i don't know time wise how it can happen now. >> let me kind of lay out the state of play. i'll try to keep it out as much as possible. this is something everybody is focused on. the ball is in the senate's court right now. so what senator reid, who you saw earlier, and the president, what they are trying to figure out is whether or not they can craft what the president called a scaled-back bill, which is what he campaigned on. raising taxes for everybody making more than $250,000 a year a
're looking to play nice. today, senator harry reid blasted the speaker for refusing to even vote on a democratic plan that would protect 98% of americans. >> everyone knows that if they had brought up the house -- i'm sorry, the senate-passed bill that would give relief to everyone making less than $250,000 a year, it would pass overwhelmingly. it's being operated with a dictatorship of the speaker. >> a dictatorship of the speaker. and here's house speaker boehner office responded. senator reid should talk less and legislate more. legislate more? what legislation has speaker boehner been working on while on vacation? while we're about to go over the cliff, the gop has been pointing fingers at the president. one gop aide says talks have failed because "the president made a strategic miscalculation and overreached. he picked a fight." picked a fight? sorry, that's not going to fly. the president has come to the table with numerous proposals. he isn't picking a fight. he's fighting for the american people. we all want a deal. but we will not give up our core principles. the preside
to avert the fiscal cliff is the senate, which returns tomorrow. majority leader harry reid is devising a partial solution that could ease economic fears. >> if we go over in a chaotic fashion, where members of congress are deeply grid locked with no sign of coming together, then we're likely to go over and stay over. and that's very problematic. >> reporter: going over the cliff would restore higher bush era tax rates and trigger deep spending cuts on january 1st. congress set up the harsh mechani mechanism, hoping it would force a compmise, but it hasn't. >> washington remains on square one in the fiscal cliff talks. >> reporter: congress reached this brink before christmas when speaker john boehner failed to get enough house republicans to support his solution, threw up his hands and said it's up to leader reid and the president. >> how we get there, god only knows. >> reporter: aides say reid's plan would avoid tax increases for people making less than $250,000, eliminate spending cuts and restore unemployment benefits. >> what needs to happen now is for a sense of desperation amon
, was senator mitch mcconnell and here we have the majority leader in the senate, harry reid. let's listen in for a second. >> the house has reported by the press and we all know, one of the plans didn't have a name, it wasn't plan b. i don't know which plan it was because they've had a number over there. but this plan was to show the american people that the $250,000 ceiling on raising taxes wouldn't pass in the house. why didn't they have that vote? because it would have passed. they wanted to kill it. the speaker wanted to show everybody that it wouldn't pass the house. but he couldn't bring it up for vote because it wouldn't pass. republicans -- a myriad of republicans think it's the fair thing to do and of course every democrat would vote for that. the republican leader finds himself frustrated that the president has called on him to help address the fiscal cliff. he's upset because, quote, the phone never rang. he complains that i have not passed the resolution to pass the fiscal cliff but he's in error. we all know that in july of this year we passed in the senate the relief that wo
're shifting negotiation tactics now to a group of two. two senators, mitch mcconnell and harry reid, the two party leaders in the senate, are going to be trying to find a way to get a deal today. we know their staff is talking. we don't expect actually any necessary meetings between those two leaders right away today. we think that their chiefs of staff are going to be on the phone, via e-mail. this reported from our producer, ted barrett. perhaps tonight they'll see if the leaders can sit down and get together something to present to their various caucuses. now as i said, it was silent until yesterday. then we heard many people speaking. again, we heard from president obama this morning talking about how important it is to try and get a deal done this week. >> you meet your deadlines, your responsibilities every single day. the folks you sent here to serve should do the same. we cannot let washington politics get in the way of america's progress. we've got to do what it takes to protect the middle class, grow this economy, and move our country forward. >> that was the president's weekly add
. they want to see what kind of bill harry reid brings forward on the floor. he is looking at republican leader mitch mcconnell to say what are you willing to accept? so here we are. there is blame game going on. there is lot of maneuvering still. bottom line we'll probably meet this weekend heading up to the fiscal cliff and we'll see what the final offer is to see if they can push it across the finish line. gregg: mike, we're getting word the president has nod no meaningful conversation with anybody own capitol hill, especially john boehner and yet we do hear, that, you know, the seeds have been talking. that staffers have actually been negotiating. what do you hear? >> reporter: that's right. we heard there have been ongoing discussions, taking place throughout the christmas holiday but at this point republicans are saying they took a beating, if you will, trying to lead in the house, a deal that did not go very far. so they're saying, okay, harry reid, senate democrats, see what you can do, see what you put forward and see if it is good enough to possibly pass both the senate and the
and schedule a vote. so the pressure is on for senator majority leader harry reid, and mitch mcconnell, be sure no republicans block the bill. for house speaker john boehner to agree to bring it to a vote on the house floor and leader nancy pelosi to predict a huge number of democrats needed to pass it. but if that plan falling through -- >> then i will urge senator reid to bring to the floor a basic package for an up or down vote. >> reporter: the president's basic package has much more for democrats to like. so don't expect that to get very far, but all sides now agree the senate must first pass a bill before the house makes any kind of move. so all eyes will be on mitch mcconnell and harry reid and their negotiatorsoled up on capitol hill. the senate comes back into session at 1:00 on sunday. christi, alison? >>> and the cliffhanger continues. jessica yellin, thanks. >>> and january 1st is the deadline to make a deal on the fiscal cliff. for some states, it's a day that a series of new laws are going to take effect. let me get you clued in here. in california, talking more than 800 new laws,
service for the late senator daniel inouye. harry reid is also at that event. will he talk to president obama? white house officials right not being fairly tight-lipped on that matter. not telling us if there are any meetings scheduled at this point in time. they, again, call this a working vacation and say that staffers are working on this behind the scenes. melissa? >> hang on just a second. let me bring in nbc news political editor diminico montenero. what do you think about the majority leader flying all the way to hawaii? >> i think they realized they have three options, small deal, a big deal or go over the cliff, and right now the most likely scenario is a small deal. something that puts us past the fiscal cliff but then brings the fiscal issues into the new year which has a lot of potholes for the president. has a lot of things to get done on his legislative agenda, so worried about how going over the cliff might impact the economy immediately. >> who is more likely to take the blame if we do go over this cliff? >> that's a lot of what we're seeing. that's why you see john boehn
republicans and the far left in mr. obama's party. the president met with senate majority leader harry reid this afternoon and talked with speaker boehner to begin anew that eort to reach compromise. >> averting this middle-class tax hike is not a democratic responsibility or republican responsibility. with their foes the american people have determined that governing is a shared responsibility between both parties in this congress laws can only pass with support from democrats and republicans, and that means nobody gets 100 percent of what they want. lou: there are only ten days remaining to the fiscal cliff. president obama headed to value within actually minutes, and members of congress have also gone home for chrrstmas vacation already. in a news conference today, speaker boehner admitted negotiations with the president have, indeed, been difficult. >> until the president on monday, these are my bottom lines. the president told me that his numbs, $1 trillion in new revenues, 850 billion in spending cuts was his bottom-line. he could not go any further. lou: and he didn't. the plan be op
are still pretending to work. >> people don't like congress. >> it is up to the senate to act. >> harry reid is working on legislation. >> harry reid, the congress and the president. >> the president is cutting his hawaii vacation short to deal with the fiscal cliff. >> really, it's kind of like falling down stairs. we have a dysfunctional congress. >> speaker boehner needs to bring his party along. >> it's pretty clear that he could not bring them along. >> john boehner doesn't seem to have full control of his caucus. >> they were this close. >> the republicans will be blamed. >> they were this close to a solution. >> we're going to head over that cliff. >> i know it's hard for the republicans. the minute those leaders move forward, they get viscerated. >> guns shouldn't be available for anyone, any time, anywhere. >> the conversation still wages on. >> its plan to add more guns to schools. >> a completely dumb-ass idea. >> i don't think the nra is listening. >> you can call it whatever you want to call it. >> congress hasn't confirmed the director of the bureau of alcohol, tobacco and fire
reid to avoid the fiscal cliff and figure out a passport. he said he is ready and willing to try t to get a compromise package done. all at once or stuff like that. but we'll have to wait until after the holiday. the president planning to hold out for the holidays, and congress is out for the holidays. the president saying that putting pressure began on republicans, house republicans, to least extend tax cuts for the middle class. that would be the step by scratch in transit approach and he is speaking to constituents back home who he hopes will give feedback to members of congress while they are there for the holiday to try to get them to agree or get back to the table to negotiate something. gerri: if it were up to me, i say that they work until they get their work done. thank you so much. have a great holiday. gerri: is back to the negotiating table. but have republicans lost their leverage? americans for tax reform, we have matti doppler. let's start with you. how much time can we spend spinning our wheels today we met nancy pelosi, making fun of republicans. a guy dressing up
these prevent it, in control of whether or not your taxes go up come new year's day. harry reid, minority leader mitch mcconnell, house speaker john boehner and house democratic leader nancy pelosi met at the white house yesterday afternoon with the president and vice president. here's where things stand right now. the senate leaders are meeting aiming to avoid tax hikes. and they may vote on a deal sunday or perhaps on monday. jessica yellin is our chief white house correspondent. lisa day jar dayne is on capitol hill. the president used his bully pulpit to reinforce the idea that senators need to get busy. so let's listen. >> the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. america wonders why it is that in this town for some reason, you can't get stuff done in an organized timetable, why everything always has to wait till the last minute. we're now at the last minute. and the american people are not going to have any patience for a politically self-inflicted wound to our economy. not right now. >> so jessica, you were
: there are signs of progress. mitch mcconnell and harry reid have agreed to spend the next 24 hours trying to come to a bipartisan agreement on a smaller fallback plan to keep at least some taxes from going up. after the meeting, house democrat leader nancy pelosi told us she's at least a little encouraged. >> it was constructive. as i say, candor is constructive, and i think it moved us forward, but we'll see. >> reporter: it was the first meeting with the president and all the congressional leaders in six weeks. it follows an impasse that has shaken wall street, the dow down more than 400 points since talks stalled last week. and on main street, business owners like drew greenblatt, who owns a wire basket manufacturing company in baltimore, say the coming fiscal cliff is already causing pain because they just don't know what will happen to their taxes. >> right now we're doing our budget. we're deciding how many people we're hiring next year. we're figuring out how many robots and machines we'll invest in our factories. >> reporter: and across the country all the political bickering had people o
met with harry reid at the white house and spoke with house speaker john boehner. mr. obama said lawmakers need a break from fiscal cliff frustration-- much of it self- induced. >> we move forward together or we don't move forward at all so as we leave town for a few days to be with our families for the holidays, i hope it gives everybody some perspective. >> reporter: the president will follow his own advice. lawmakers and return to washington if there is a deal. >> pelley: major, thank you. as you know, this debate is all about bringing the federal budget under control. if the white house and congress can't figure it out, big across- the-board budget cuts and those tax increases we mentioned kick in automatically january 1. the so-called fiscal cliff. the republican speaker of the house tried to force through his solution last night but he couldn't keep his own party in line. nancy cordes is at the capitol. nancy? >> reporter: scott, this was an unforced error. speaker boehner did not have to bring this plan "b" bill up but he was simply trying to get more leverage in negotiati
, senate majority leader, harry reid, described the meeting as constructive. >> we're out of time. we've got to do it now. that's why the next 24 hours will be very important. >> reporter: a source familiar with the talks told nbc news the president reiterated the proposal he presented before leaving on vacation last week. calling for, among other things, a tax cut extension for those making $250,000 or less. and extending unemployment benefits that are set to expire. the source says the president is confident his plan can pass in both the house and senate if republicans allow a vote. earlier in the day, republicans blamed president obama for the stalemate. >> i agree that it is the president's responsibility to lay out a plan and to bring people together. but it's a total dereliction of duty and candidly, a lack of courage to deal with these issues. >> reporter: what's at stake for ordinary americans? with income and payroll tax cuts set to expire monday, taxes would go up for most everyone next week. $110 billion in spending cuts will kick in. and 2 million jobless americans will lo
gap measure, temporary measure before the new year? >> well, you just heard from senator reid he's pessimistic. i told you he's probably one of the biggest pes mists on the planet but i think in this particular case he has good reason to be pessimistic. the one thing that i think is important to also note is that what reid is telling people privately, i'm told, is that he doesn't want to bring anything up for a vote unlil he is sure it will pass both houses of congress and one of the reasons for that is a political one. he knows republicans won't want to take a vote to effectively increase taxes for that reason, to say i did it because i want to make sure most americans kept their tax cuts in place but also because of the markets. they really feel here if they take a failed vote and we still go over the fiscal cliff it will make the market reaction even worse than it would be if the fiscal cliff just happens which is not going to be a good scene probably. >> dana, that ing you very much. we'll be back with you in a half hour. >>> the adupgs of a russian child was almost complete.
and they are scattered throughout the country and taxes are going up on january 1st. let's listen to harry reid. he is not happy about the house and being away. he is the top senate democrat. >> we are here in washington working. we have the house of representatives out watching movies and watching their kids play soccer and basketball and doing all kinds of things. they should be here. >> here's a reality. reid said it's beginning to look to him as though we will plunge over the cliff come tuesday. they are keeping an eye on washington to see what develops. since it looks as though we are headed for higher taxes, i want to bring in terry savage, a personal finance expert for the chicago sun times. terry, let's walk through the higher taxes. we heard little class families are likely to lose $2,000 a year. you break it down this way for single earners making $85,000 a year if their take home pay is $2500 every two weeks. when the higher taxes kick in, they will see their pay go down $120. that's not a little. we are taking a major hit. >> this is big money. almost $400 a month. when you add up a cou
negotiations, whether the president, senator reid or others in about a month, around thanksgiving. with the democrats not reaching out to senator mcconnell for a month, doesn't seem like they have been pushing very hard for a deal, gregg. gregg: has the bickering between reid and boehner sort of poisoned the negotiations past the point that, you know, maybe this meeting will help at all? >> reporter: it may have because it's really, we've seen tensions escalate ever since before christmas when john boehner was not able to get a deal through the house where he has a very strong republican majority. he had a rebellion amongst some of his fellow conservatives. that is what held it up. senator harry reid as you say was very rough going directly after boehner yesterday. take a listen. >> the american people i don't think understand the house of representatives is operating without the house of representatives. it's being operated with a dictatorship of the speaker, not allowing the vast majority of the house of representatives to get what they want. >> reporter: the word dictatorship n
are at punch bowl, national military cemetery on the island where the senator will be buried. harry reid has been making a speech moments ago and telling a where senator bob dole like senator inouye, they recuperated in michigan and later served in the senate together, bob dole walked up to the casket and lifted his left hand, his right hand was badly damage and saluted. a poignant moment. president obama at the washington cathedral, it was his really earliest political inspiration. both the president and senate majority leader reflecting on daniel inouye both a long time legislator but two days they will be getting back to work on the fiscal cliff. >> heather: the difficult job of reporting from hawaii, thank you so much, ed. >> gregg: the mother of john hammer telling her son is now in a louisiana hospital. he was released from a mexican prison last week after months behind bars. mexican authorities arrested him after he carried an antique shotgun into their country, even though he says he legally declared the weapon and had a permit for it. today his dad reportedly brought him to the emer
christmas short. harry reid and democrats expected to lay the groundwork for yet another plan to avoid the looming tax increases and spending cuts. old man winter wiping out the holidays for many people in the country. his work is not done yet. people worried about washington keeping their spending type. time for stocks now. nicole petallides is at the new york stock exchange. nicole: the dow is down about ten points. the s&p pulling back one quarter of 1%. a lot of the retailers loved like the biggest losers. 500 stocks are comprised and represent oriole to autos to airlines. the sector that was really lagging where the retailers. oil has been moving to the upside. there is a lot going on with that. and oil spike of two dollars. now, let's take a look at technology. we do see some of the tech stocks doing pretty well. hewlett-packard and intel have been among the real losers for the year 2012 on the dow. today, you continue to see this trend which is a little better. back to you. dagen: thank you. the senate returning to washington tomorrow. the president, as well. five days left to r
senator harry reid. this is what he said yesterday on the senate floor. >> american people don't understand the house of representatives operating without the house of representatives. it has been operated with a dictatorship of the speaker. stuart: that were dictatorship of the speakers very strong, confrontational language. joining me is the democrat's strategists, welcome back to the program. i am saying using language like that is not conducive to getting a deal or progress when the two sides get together at the white house this afternoon. that is a mistake. i don't think the senator should have said that. >> john boehner is not a dictator. he is being held hostage by members of his caucus who won't let him negotiate. i don't think it's fair to say he is a dictator of any kind. he has been trying to work something out, even raising taxes on people over $1 million. people of his own caucus won't let him do that. stuart: you are shining appraise -- >> i feel bad for the guy. i have been saying for weeks he lost control of the caucus. stuart: i won't point blamed either side.
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